Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +19.3%
S&P 500 total return (same window) +37.0%
Excess return -17.7%

Annualized: +15.2% · S&P 500: +28.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 89.5% · Options excluded: 0.0%

Sector breakdown

04
Technology 17.6%
Financials 10.8%
Communication Services 10.0%
Healthcare 8.4%
Industrials 7.5%
Retail 6.9%
Real Estate 1.4%
Utilities 1.3%
Materials 1.1%
Energy 1.1%
Consumer Discretionary 0.9%
Consumer products 0.9%
Consumer Staples 0.7%
Other/Unmapped 31.5%

Full portfolio 180 positions

05
Type Streak 8Q trend
AAPL Apple Inc. - Common Stock $37,740,823 5.52% 130,429 $4,743,560 Up ×5
AMZN Amazon.com, Inc. - Common Stock $29,960,530 4.38% 125,705 $3,935,736 Up ×6
NVDA NVIDIA Corporation - Common Stock $29,300,147 4.29% 146,435 $3,926,227 Up ×6
GOOGL Alphabet Inc. - Class A Common Stock $26,866,106 3.93% 75,177 $4,949,942 Down ×2
MSFT Microsoft Corporation - Common Stock $26,533,322 3.88% 71,131 $82,789 Down ×2
VO Vanguard Morningstar Mid-Cap ETF $21,539,350 3.15% 267,337 $3,048,147 Up ×1
JPM JP Morgan Chase & Co. Common Stock $20,668,046 3.02% 63,141 $2,115,926 Up ×1
GOOG Alphabet Inc. - Class C Capital Stock $19,821,106 2.90% 56,098 $3,725,678 Down ×1
IJR iShares Trust $19,659,725 2.88% 132,558 $3,520,376 Up ×3
VB Vanguard Morningstar Small-Cap ETF $18,866,881 2.76% 62,242 $3,263,108 Up ×1
SPY SPY $18,771,947 2.75% 25,138 $2,486,006 Up ×2
VOO Vanguard S&P 500 ETF $16,439,513 2.41% 23,936 $6,085,666 Up ×6
LLY Eli Lilly and Company Common Stock $15,786,948 2.31% 13,162 $3,732,423 Up ×1
VTI Vanguard Morningstar Total Stock Market ETF $13,769,830 2.02% 37,212 $2,322,894 Up ×3
VEA VANGUARD TAX-MANAGED FUNDS $12,678,736 1.86% 177,947 $3,570,204 Up ×4
ABBV AbbVie Inc. Common Stock $12,401,231 1.81% 49,282 $1,628,069 Down ×2
META Meta Platforms, Inc. - Class A Common Stock $12,210,219 1.79% 21,677 $3,070 Up ×6
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B $11,343,841 1.66% 22,670 $681,641 Up ×6
MA Mastercard Incorporated Common Stock $10,566,831 1.55% 20,574 $285,812 Down ×1
BX Blackstone Inc. Common Stock $9,528,210 1.39% 80,974 $-46,501 Down ×2
VEU Vanguard FTSE All World Ex US ETF $8,991,016 1.32% 107,355 $2,304,733 Up ×2
RTX RTX Corporation Common Stock $8,900,659 1.30% 46,912 $11,432 Up ×6
SPSB SPDR SERIES TRUST $8,704,246 1.27% 290,045 $2,191,011 Up ×6
IWM iShares Trust $8,669,485 1.27% 28,855 $1,573,709 Up ×1
NEE NextEra Energy, Inc. Common Stock $8,003,226 1.17% 91,184 $-183,134 Up ×6
TJX TJX Companies, Inc. (The) Common Stock $7,252,592 1.06% 47,872 $-373,705 Up ×6
ABT Abbott Laboratories Common Stock $7,043,863 1.03% 77,627 $-1,415,008 Down ×2
WM Waste Management, Inc. Common Stock $6,683,725 0.98% 29,988 $-142,876 Up ×6
IVV iShares Core S&P 500 ETF $6,431,909 0.94% 8,589 $1,300,712 Up ×6
PLD Prologis, Inc. Common Stock $6,083,687 0.89% 44,908 $349,190 Up ×6
ETN Eaton Corporation, PLC Ordinary Shares $6,062,409 0.89% 14,227 $1,259,616 Up ×3
Unknown issuer (CUSIP: 30233Q108) $5,357,549 0.78% 39,186 Up ×1
LIN Linde plc - Ordinary Shares $5,211,441 0.76% 10,042 $479,177 Up ×6
SYK Stryker Corporation Common Stock $5,044,757 0.74% 16,023 $306,739 Up ×6
CDNS Cadence Design Systems, Inc. - Common Stock $4,933,581 0.72% 13,145 $1,739,465 Up ×1
APH Amphenol Corporation Common Stock $4,769,456 0.70% 27,050 $4,263,930 Up ×1
SARO StandardAero, Inc. Common Stock $4,622,710 0.68% 154,554 $804,209 Up ×2
JNJ Johnson & Johnson Common Stock $4,265,474 0.62% 16,795 $85,748 Down ×6
SU Suncor Energy Inc. Common Stock $4,142,808 0.61% 77,176 $-796,402 Up ×6
TMUS T-Mobile US, Inc. - Common Stock $3,945,681 0.58% 23,524 $-1,015,018 Down ×1
ITW Illinois Tool Works Inc. Common Stock $3,914,242 0.57% 14,472 $-259,248 Down ×2
MPWR Monolithic Power Systems, Inc. - Common Stock $3,867,843 0.57% 2,798 $1,500,740 Up ×1
DHR Danaher Corporation Common Stock $3,748,916 0.55% 19,681 $-578,593 Down ×2
ARMK Aramark Common Stock $3,736,225 0.55% 65,663 Up ×1
Unknown issuer (CUSIP: 438516205) $3,688,529 0.54% 16,474 Up ×1
Unknown issuer (CUSIP: 43849R105) $3,642,072 0.53% 16,474 Up ×1
IWF iShares Trust $3,593,839 0.53% 28,943 $508,526 Up ×1
PG Procter & Gamble Company (The) Common Stock $3,554,016 0.52% 24,236 $-146,152 Down ×6
ORLY O'Reilly Automotive, Inc. - Common Stock $3,551,635 0.52% 38,567 $149,458 Up ×5
RGA Reinsurance Group of America, Incorporated Common Stock $3,546,151 0.52% 16,676 $196,906 Up ×2
FTAI FTAI Aviation Ltd. - Common Stock $3,530,417 0.52% 13,050 $257,952 Down ×6
MRK Merck & Company, Inc. Common Stock (new) $3,372,309 0.49% 26,244 $128,972 Down ×6
COST Costco Wholesale Corporation - Common Stock $3,227,920 0.47% 3,451 $-129,113 Up ×1
NDAQ Nasdaq, Inc. - Common Stock $3,207,633 0.47% 40,696 $-209,199 Up ×6
CSCO Cisco Systems, Inc. - Common Stock $3,204,633 0.47% 27,283 $1,070,306 Down ×2
MDLZ Mondelez International, Inc. - Class A Common Stock $3,169,838 0.46% 54,804 $230,108 Up ×4
VWO Vanguard FTSE Emerging Markets ETF $3,065,499 0.45% 51,357 $513,853 Up ×1
V Visa Inc. $3,017,619 0.44% 8,795 $370,778 Up ×1
CME CME Group Inc. - Class A Common Stock $2,903,694 0.42% 13,149 $-1,139,057 Down ×6
VIG Vanguard Div Appreciation ETF $2,885,178 0.42% 12,193 $184,588 Down ×1
SOXQ Invesco PHLX Semiconductor ETF $2,704,525 0.40% 24,126 Up ×1
IEFA iShares Core MSCI EAFE ETF $2,664,449 0.39% 27,588 $202,305 Up ×2
AMD Advanced Micro Devices, Inc. - Common Stock $2,647,788 0.39% 4,558 $1,654,439 Down ×1
CHD Church & Dwight Company, Inc. Common Stock $2,554,532 0.37% 26,368 $81,272 Down ×1
VV Vanguard Morningstar Large-Cap ETF $2,548,187 0.37% 7,409 $361,663 Up ×3
UNP Union Pacific Corporation Common Stock $2,511,920 0.37% 9,235 $237,843 Down ×6
MRSH Marsh Common Stock $2,409,215 0.35% 14,455 $-590,082 Down ×3
AZN AstraZeneca PLC - American Depositary Shares $2,365,699 0.35% 12,476 $-110,201 Down ×2
IJH iShares Trust $2,340,488 0.34% 30,353 $517,638 Up ×6
MRVL Marvell Technology, Inc. - Common Stock $2,192,489 0.32% 7,360 $1,439,010 Down ×1
VCSH Vanguard Short-Term Corporate Bond ETF $2,192,034 0.32% 27,737 $11,916 Up ×3
IWD iShares Trust $2,141,282 0.31% 8,833 $254,025
PH Parker-Hannifin Corporation Common Stock $1,963,087 0.29% 2,007 $159,178 Down ×6
DELL Dell Technologies Inc. Class C Common Stock $1,900,150 0.28% 4,404 $1,174,039 Down ×6
TYL Tyler Technologies, Inc. Common Stock $1,797,752 0.26% 6,147 $-283,918 Up ×2
AMT American Tower Corporation (REIT) Common Stock $1,778,660 0.26% 10,874 $-183,575 Down ×6
GS Goldman Sachs Group, Inc. (The) Common Stock $1,767,875 0.26% 1,748 $269,627 Down ×6
VRT Vertiv Holdings, LLC Class A Common Stock $1,704,903 0.25% 5,092 $391,864 Down ×1
MCD McDonald's Corporation Common Stock $1,643,352 0.24% 6,080 $-260,084 Down ×6
MCHP Microchip Technology Incorporated - Common Stock $1,610,774 0.24% 17,662 $492,892 Up ×1
VTEC VANGUARD CALIFORNIA TAX-FREE FUNDS $1,564,972 0.23% 15,556 Up ×1
CVX Chevron Corporation Common Stock $1,545,796 0.23% 9,326 $-400,300 Down ×6
ICE Intercontinental Exchange Inc. Common Stock $1,531,981 0.22% 12,444 $-569,123 Down ×5
TFLO iShares Treasury Floating Rate Bond ETF $1,452,828 0.21% 28,695 $-464,935 Down ×1
NET Cloudflare, Inc. Class A Common Stock $1,433,171 0.21% 5,843 $227,526
OKE ONEOK, Inc. Common Stock $1,369,740 0.20% 15,755 $-61,134 Down ×6
MDY State Street SPDR S&P MIDCAP 400 ETF Trust $1,365,183 0.20% 1,941 $168,052
VTEB VANGUARD MUNICIPAL BOND FUNDS $1,323,375 0.19% 26,164 $-93,202 Down ×1
IRM Iron Mountain Incorporated (Delaware)Common Stock REIT $1,319,308 0.19% 10,445 $229,372 Down ×6
SHW Sherwin-Williams Company (The) Common Stock $1,302,218 0.19% 3,782 $22,903 Down ×2
CARR Carrier Global Corporation Common Stock $1,278,124 0.19% 17,425 $296,922
RSP Invesco Exchange-Traded Fund Trust $1,231,726 0.18% 5,789 $119,742 Down ×1
JEPI JPMorgan Equity Premium Income ETF $1,206,808 0.18% 21,367 $100,584 Up ×1
ORCL Oracle Corporation Common Stock $1,204,064 0.18% 8,216 $-257,483 Down ×4
CAH Cardinal Health, Inc. Common Stock $1,145,989 0.17% 4,824 $123,249 Down ×6
ANET Arista Networks, Inc. Common Stock $1,093,178 0.16% 6,435 $305,053 Up ×1
IWR iShares Trust $1,045,061 0.15% 9,473 $124,001
VXF Vanguard Extended Market ETF $1,004,044 0.15% 4,078 $158,206 Down ×1
XLK SELECT SECTOR SPDR TRUST $955,648 0.14% 5,016 $290,351 Up ×1
ECL Ecolab Inc. Common Stock $945,324 0.14% 3,393 $155 Down ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
AAPL $37,740,823 5.52% up ×5
AMZN $29,960,530 4.38% up ×6
NVDA $29,300,147 4.29% up ×6
IJR $19,659,725 2.88% up ×3
VOO $16,439,513 2.41% up ×6
VTI $13,769,830 2.02% up ×3
VEA $12,678,736 1.86% up ×4
META $12,210,219 1.79% up ×6
BRK-B (filed as BRKB) $11,343,841 1.66% up ×6
RTX $8,900,659 1.30% up ×6
SPSB $8,704,246 1.27% up ×6
NEE $8,003,226 1.17% up ×6
TJX $7,252,592 1.06% up ×6
WM $6,683,725 0.98% up ×6
IVV $6,431,909 0.94% up ×6

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
Unknown issuer (CUSIP: 30233Q108) $5,357,549 39,186 0.78%
ARMK $3,736,225 65,663 0.55%
Unknown issuer (CUSIP: 438516205) $3,688,529 16,474 0.54%
Unknown issuer (CUSIP: 43849R105) $3,642,072 16,474 0.53%
SOXQ $2,704,525 24,126 0.40%
VTEC $1,564,972 15,556 0.23%
VONG $516,991 4,045 0.08%
SCHD $504,200 15,900 0.07%
SCHO $376,584 15,600 0.06%
Unknown issuer (CUSIP: 84615Q103) $327,026 1,914 0.05%
TSLA $242,686 577 0.04%
LRCX $230,098 531 0.03%
TFI $223,458 4,879 0.03%
XLY $212,746 1,814 0.03%
ITOT $211,943 1,290 0.03%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
VOO Bought more +7K +$6.1M
GOOGL Trimmed -1K +$4.9M
AAPL Bought more +411 +$4.7M
AMZN Bought more +748 +$3.9M
NVDA Bought more +942 +$3.9M
LLY Bought more +56 +$3.7M
GOOG Trimmed -11 +$3.7M
VEA Bought more +36K +$3.6M
IJR Bought more +3K +$3.5M
VB Bought more +3K +$3.3M

2 positions hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
HON June 30, 2026 33,316 $7,530,405 -1.2%
SHV Dec. 31, 2025 61,073 $6,747,956
CRM March 31, 2026 25,255 $6,690,207 33.2%
XOM June 30, 2026 38,708 $6,567,248 34.0%
SHV June 30, 2026 51,027 $5,632,871
ARES March 31, 2026 25,445 $4,112,675 11.9%
VBIL June 30, 2026 53,444 $4,043,039
VLTO March 31, 2026 37,447 $3,736,462 18.0%
INTU June 30, 2026 5,906 $2,553,636 31.6%
ZTS June 30, 2026 19,428 $2,296,584 12.8%
UNH June 30, 2025 3,082 $1,614,198 34.0%
BKNG March 31, 2026 265 $1,419,162 -7.5%
VGUS June 30, 2026 17,570 $1,329,346
FISV Dec. 31, 2025 4,569 $589,081 -25.8%
ELV Sept. 30, 2025 1,419 $551,934 36.2%
CMG Sept. 30, 2025 8,600 $482,890 -29.8%
ANSS Sept. 30, 2025 1,356 $476,254 No longer tracked
FIS Sept. 30, 2025 4,772 $388,460 -43.1%
ZG March 31, 2026 5,070 $345,926 -17.7%
ACN March 31, 2026 1,252 $335,912 25.8%
SCMB June 30, 2026 12,625 $321,685 -6.5%
KDP Dec. 31, 2025 12,199 $311,196 23.8%
AMP March 31, 2026 625 $306,463 10.8%
SUB March 31, 2026 2,710 $289,157
BR June 30, 2026 1,778 $288,889 33.8%
CSX June 30, 2026 6,719 $275,815 6.9%
EQIX March 31, 2026 344 $263,559 -2.6%
NOBL Sept. 30, 2025 2,608 $262,597 6.7%
TRGP Sept. 30, 2025 1,471 $256,072 80.5%
FLOT Sept. 30, 2025 5,000 $255,100
BRO Sept. 30, 2025 2,284 $253,227 -22.2%
SOLS March 31, 2026 5,115 $248,487 -22.0%
VTES June 30, 2026 2,399 $242,635
ACN June 30, 2025 773 $241,223 -16.6%
ADP March 31, 2026 922 $237,166 49.7%
PNC June 30, 2025 1,347 $236,762 20.4%
CMCSA June 30, 2025 6,236 $230,119
WDAY June 30, 2025 954 $222,788 -12.5%
MCK Sept. 30, 2025 300 $219,834 29.5%
XLY March 31, 2026 1,814 $216,610 No longer tracked
FICO June 30, 2025 113 $208,390 -55.4%
ARCC March 31, 2026 10,287 $208,106 3.4%
IBTF Dec. 31, 2025 8,776 $205,051 No longer tracked
HYD June 30, 2025 4,000 $204,720 -3.3%
XLP June 30, 2025 2,502 $204,338 No longer tracked
ADBE June 30, 2026 840 $204,187 28.7%
OWL June 30, 2025 10,107 $202,544 -51.3%
TIP June 30, 2026 1,822 $201,103